|
Medicare is a national health insurance plan for people who are 65 or older. (Although the full retirement age for Social Security benefits is increasing, the age to qualify for Medicare remains 65.) People who are disabled or have permanent kidney failure can get Medicare if they are younger than 65.
Medicare has two parts—hospital insurance and medical insurance. Most people have both parts. Hospital insurance, sometimes called Part A, covers inpatient hospital care and certain follow-up care.
You already have paid for it as part of your Social Security taxes while you were working. Medical insurance, sometimes called Part B, pays for physicians’ services and some other services not covered by hospital insurance. Medical insurance is optional, and you must pay monthly premiums.
If you are already getting Social Security benefits when you turn 65, your Medicare starts automatically. If you are not getting Social Security, you should sign up for Medicare before your 65th birthday, even if you are not ready to retire. For more information, call us to ask for the publication, Medicare (Publication No. 05-10043).1-800-MEDICARE
Call 1-800-833-6436 (1-800-FED-INFO) to reach operators who speak English and Spanish who can answer just about any question regarding U.S. government benefits and services.
Social Security Benefit Estimator
If you have signed up for Medicare but not Social Security there is a retirement estimator on the Social Security Website which can provide immediate and personalized benefit estimates www.socialsecurity.gov/estimator
You can also access tables which will show how much your benefits will be reduced with different choices www.ssa.gov/retire2/agereduction.htm You can start receiving benefits any time between the age of 62 and 70; however the earlier you select to receive your benefits the less your monthly payment will be.
To get more information on the 4 Parts of Medicare, Part A (Hospitalization), Part B (Medical Insurance), Part C (Medicare Advantage Plans), Part D (Prescription Drug Coverage) to provide you with the information you need to make informed decisions about your health care.
|